Agree Realty Q1 AFFO per share up 4.6% to $1.03; guides FY2024 AFFO $4.10-$4.13

AGREE REALTY CORP

2024-Q1 EPS reported $0.43 revenue$149,453,000

AFFO per share Q1: $1.03, up 4.6% YoY; Core FFO per share $1.01, up 3.5%.
Acquired $123.5M in Q1 at 7.7% cap rate; FY2024 acquisition guidance ~$600M.
Introduced 2024 AFFO per share guidance of $4.10-$4.13, up ~4% from 2023.
Monthly dividend raised to $0.25/share (annualized $3.00), a 2.9% increase.
Portfolio 99.6% leased; over $920M liquidity; proforma net debt/EBITDA 4.3x.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AGREE REALTY CORP reported first quarter ended March 31, 2024 results: net income Net Income for the three months ended March 31, 2024 increased 8.2% to $43.0 million, EPS Net Income per share for the three months ended March 31 st decreased 2.4% to $0.43. Guidance initiated.

Period: first quarter ended March 31, 2024
Net income: Net Income for the three months ended March 31, 2024 increased 8.2% to $43.0 million
EPS: Net Income per share for the three months ended March 31 st decreased 2.4% to $0.43
Guidance: initiated
Result: reported results

Exact text from the filing

Agree Realty Corporation Reports First Quarter 2024 Results Introduces 2024 AFFO Per Share Guidance of $4.10 to $4.13

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AGREE REALTY CORP filing history →

Source: SEC EDGAR

accession 0001104659-24-050574

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